Aramco says to boost refining capacity by 50%

Saudi Arabia's state oil giant Aramco will raise its refining capacity by 50 percent to above six million barrels a day by expanding at home and abroad, chief executive Khalid al Falih said.Work was progressing on two new refineries in the kingdom, he told a meeting in Seoul on Tuesday.Four "grassroots" refineries were being considered including one at Jaizan in Saudi Arabia, plus possible joint-venture refinery projects in China, Vietnam and Indonesia, the CEO said.

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Saudi Arabia's state oil giant Aramco will raise its refining capacity by 50 percent to above six million barrels a day by expanding at home and abroad, chief executive Khalid al Falih said.Work was progressing on two new refineries in the kingdom, he told a meeting in Seoul on Tuesday.Four "grassroots" refineries were being considered including one at Jaizan in Saudi Arabia, plus possible joint-venture refinery projects in China, Vietnam and Indonesia, the CEO said.

Saudi Arabia and its OPEC cohorts may have abandoned their role as market stabilisers, but they are taking the fight with their rivals downstream and locking in market share in oil-thirsty Asia.
Saudi Arabia, OPEC’s most influential producer, is revamping its strategy as it abandons its role of swing producer in global markets and rethinking its spare capacity, says Barclays Capital.
“The kingdom [Saudi Arabia] is increasing the level of refined products it exports to the market, relative to crude oil,” said Miswin Mahesh, analyst at Barclays Capital.

Reuters/Zaki GhawasSaudi Arabia's crude oil exports in August fell to 7.305 million barrels per day from 7.622 million bpd in July as the world's largest oil exporter pumped less, the kingdom has told an influential data base.

MUMBAI: India's third biggest crude oil refiner, Hindustan Petroleum Corp (HPCL), plans to expand its refining capacity to more than 60 million tonnes annually, or about 1.2 million barrels of oil per day by 2030, according to a senior company official. This will not only help the company fill the yawning gap between the volume it refines and the volume it markets through its retail outlets, but also help in meeting the burgeoning fuel demand in the country, said HPCL Chairman Mukesh Kumar Surana at a conference late on Thursday.

NEW DELHI: Oil giant Saudi Aramco is keen on holding exclusive talks to buy a stake in the world's biggest refinery-cum-petrochemical complex that India plans to build in Maharashtra at a cost of USD 40 billion. Oil Minister Dharmendra Pradhan said Khalid A Al-Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia and chairman of Saudi Aramco, during his meeting in Vienna last month expressed interest in taking a stake in the 60 million tonne(mt)refinery and 10-12 mt petrochemical complex.

<p>Saudi Aramco, the largest crude oil exporter in the world is to expand its refining capacity and increase its oil and gas exploration activities.</p> <p>The company has a $200 billion spending program which it plans to implement over the coming decade with a heavy focus on China and Indonesia.</p> <p>Aramco’s CEO Khalid al-Falih said in a recent interview, "<em>The company plans to boost its global refining capacity to 8 million barrels a day in 10 years, including projects yet to be announced.”</em></p> <p>According to Al-Falih…

VIENNA: India said on Monday its state refiners could become cornerstone investors in Saudi Aramco when it floats its shares next year, as New Delhi seeks to strengthen ties with the world's largest oil producer. Oil minister Dharmendra Pradhan told Reuters the purchase of a stake in Aramco could be part of a plan by Indian state refiners to set up a refining venture with the Saudi giant. "I'm expecting Aramco to be a supplier for a very long time... We discussed the idea with (Saudi energy) minister (Khalid al) Falih in Houston this year.

KUALA LUMPUR: Indian Oil Corporation Ltd (IOCL) said it is in initial talks with Saudi Aramco on downstream investments, including a mega project on its west coast, that could help the OPEC member lock-in customers amid an oil supply glut. Oil producers are targetting growing demand in Asia to boost market share after rising US shale oil output has displaced some of their supplies. India, the world's third biggest oil consumer, plans to build a 1.2 million barrels per day (bpd) refinery to petrochemical project in the country's west coast to feed its growing fuel demand.